Note 14 - Income Taxes

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Income Tax Disclosure [Text Block]

14. Income Taxes

The provision for income taxes reflects current taxes and deferred taxes. The effective tax rate for each of the nine months ended September 30, 2024 and 2023 was 0%.

The valuation allowance against net deferred tax assets as of September 30, 2024, was $104,131, an increase of $8,875 from $95,256 as of December 31, 2023. The Company continues to provide for a valuation allowance to offset its net deferred tax assets until such time it is more likely than not the tax assets or portions thereof will be realized.

An excess tax deficiency of $102 and an excess tax benefit of $1,410 were recognized in the provision for income taxes for the three and nine months ended September 30, 2024, respectively, which were offset by $102 and $1,410 of valuation allowance, respectively. 

An excess tax benefit of $436 and an excess tax deficiency of $803 were recognized in the provision for income taxes for the three and nine months ended September 30, 2023, respectively, which were offset by $436 and $803 of valuation allowance, respectively.